In an initial public offering, Inbox Business Technologies Ltd. aims at raising 1.5 billion rupees ($14 million), selling a 39 percent stake in what is scheduled for June.
In an interview with Bloomberg, Mir Nasir, Chief Executive Officer at one of Pakistan’s largest IT companies said he is targeting a doubling revenue to $100 million in the next five years. He said:
“Our own industries are now starting and taking notice of the digital disruption concept and they are getting more and more automated”
It all started in 2001 when Inbox started as an assembler of computers and laptops before transforming into a managed services provider company, with long-term contracts handling infrastructure and systems for clients.
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With 80% of the total revenue coming from government projects, Inbox Business Technologies is responsible for one of the largest public office projects, the mass transport system in Lahore and twin cities, including the installation, maintenance of automated fare collection, vehicle monitoring systems and bus scheduling. On the other hand, the spend is from the telecom companies and the FSI industry.
As for the IPO, funds raised from the listing is to be used to bid for future contracts that will require upfront investment.
Source: Bloomberg
